AMCON Debt Recovery Success: Strategic Asset Tracing
Asset Management Corporation of Nigeria v. Glaceo Ltd. showcases our expertise in complex debt recovery matters. We were engaged by AMCON to recover a substantial sum owed by Glaceo Ltd., whose Managing Director had been evading all collection efforts.
When conventional debt recovery methods fail, creative legal strategies and relentless pursuit can achieve results. Our track record with AMCON speaks to our effectiveness in high-stakes debt recovery.
The Challenge
The Obligor was at large, and all previous efforts by AMCON to recover the debt had failed. The company's leadership had proven elusive, making traditional collection methods ineffective. AMCON needed a more aggressive and innovative approach.
Our Strategic Approach
Upon engagement, we took decisive action. We conducted comprehensive asset searches to identify all properties belonging to the obligor. Having located these assets, we secured court orders authorizing their disposal to satisfy the debt. This put significant pressure on the absconding director.
The Outcome
Faced with the imminent loss of his assets, the MD/CEO who had been at large came forward and paid AMCON the full amount owed. This case is noteworthy for the innovative procedures deployed and the substantial sums recovered. We have since handled over 10 cases for AMCON and recovered significant amounts for them.
Author
Neplus Ultra Attorneys
Publisher
Neplus Ultra Attorneys is a 21st century fully integrated law firm in Nigeria with offices in Abuja and Benin City. We provide top quality legal services across all areas of law.